Hey Ashwin,
Thank you kindly for the feedback and feature request!

We’ve got this on our radar and will continue looking for a secure way to implement a CAPS indicator. In the meantime, if you’re on macOS and are willing to switch to beta builds, using the 1Password for Mac beta coupled with the 1Password X beta (https://discussions.agilebits.com/discussion/79610/how-to-install-1password-x-beta-in-chrome-and-firefox) allows 1Password X to leverage the desktop app’s locking capabilities, along with its lock screen CAPS indicator. :)